ACCOUNTING 101 — FINANCIAL ACCOUNTING

Fall 2010

INSTRUCTOR: Edward G. Fratantaro

EMAIL:

WILEY PLUS: http://edugen.wiley.com/edugen/class/cls182287/

WEBSITE/OUTLINES: Chapter materials are found on my website. Go to the OCC homepage, click to About OCC; click on Directory, click on Faculty; click on “F” and find my name; click on the website address and it will bring up my website. You will need to download and print all handouts and bring them to class. You may want to print the authors’ PowerPoint slides. The slides should be printed in outline format three to a page. The chapter materials and the PowerPoint slides will enhance your comprehension of accounting.

TEXT & MATERIAL: 1) Financial Accounting 5th edition

Kimmel, Weyganot + Kieso

2) Please purchase a 2-Column Journal. The book should cost

no more than $ 5.00 and can be found in the OCC bookstore or

a local office supplies store.

COURSE DESCRIPTION: An introductory course covering the fundamentals of financial accounting of the corporate entity. The course involves the analysis, recording, and summarizing of accounting transactions on the accrual basis. Emphasis will be placed on students learning that accounting is an information system meeting the demands of users for decision making.

STUDENT LEARNING (1) Demonstrate knowledge of the accounting cycle by performing

OUTCOMES appropriate accounting functions.

(2) Demonstrate ability to prepare financial statements for a corporation.

(3) Prepare accounting entries required for a service versus merchandising business.

ACCOUNTING 101: Is a graded class; students do not have the "credit/no credit" option.

GRADING POLICY: Semester grades are based on exam scores, group activity scores, scores on homework assignments completed for each chapter through the use of Wiley Plus and pop quizzes. There will be five (5) exams administered during the semester. There will be no make-up exams and no exam scores dropped. All exam scores will be counted toward the final grade.

: At the end of the semester students will have the following options:

1. Count all exams previously taken toward the final grade and not sit for the comprehensive Final

2. If an exam was missed during the semester take the comprehensive final for to replace the missed exam.

3. Replace a exam score by taking the comprehensive final.

4. If an exam is missed and the comprehensive final not taken the student will receive a zero (0) for that exam missed.

The Par System is used for scoring your test; make sure you bring a Par Scantron (RED) for each exam. I will bring an example of the form to class.

Quizzes There is no extra credit available. To enhance one's grade

there will be quizzes held during the semester. These quizzes

may or may not be announced beforehand. They are bonus

points and worth a total of 25 points. If a quiz is missed it cannot be made up.

EXAMINATION SCHEDULE:

Exam Chapters Points Total Points % Grade

1 1, 2, 3 100 620-558 90 A

2 4, 5 100 496 80 B

3 6, 7 100 434 70 C

4 8, 9, 100 372 60 D

5 10, 11 100

Final – Comprehensive 1-11 100

Group Activities 20

Wiley plus 100

Total Points * 720

Of the 720 possible points only 620 will be used for final grade tabulation

GROUP ACTIVITIES: Today's organization, in addition to competence, requires its employees to work in team settings and have a high amount of both verbal and written communication skills. To promote these qualities in the classroom you will be required to participate in occasional group activities to solve accounting problems. Randomly selected groups will be evaluated and graded. If you miss the activity a zero will be awarded.

HOMEWORK: Assigned daily and covered in the following class.

WITHDRAWAL POLICY: IT IS THE RESPONSIBILITY OF THE STUDENT TO WITHDRAW FROM THE CLASS. The college policy allows withdrawal from classes through the last day of the 12th week of the semester. Withdrawal by the appropriate date insures the student no penalty grade.

A NOTE TO THE STUDENT: While all materials will be discussed, illustrated and

demonstrated in class, it is your responsibility to read the

TEXTBOOK.

CLASS RULES AND ETIQUETTE:

 Be on time. Continual lateness to class disturbs the

Instructor, your fellow students, and the flow of the class.

 Do not bring food or drink into the classroom. It is not

someone else’s responsibility to clean up after you.

 Come to the class prepared. You will find the class that much

more interesting when you become actively involved.

 Remember that you are in an accounting class; studying and

working on another class will not be tolerated.

 If you must put your head on the desk and take a nap, you

might consider transferring to another class.

 If you are having a problem with the class, do not wait until

the semester is almost over to seek help. Please see me

immediately.

O:\Bizdiv\FacDoc\Instrutors files\Fratantaro\Hand-out\Fall-2010.doc